Episode
234
Thu, 04 Dec 2025 20:00:00 +0000
In this episode, Dominic walks through real stories from HVAC, cabinetry, and millwork companies and reveals the 3 biggest mistakes that can destroy a family business during succession.
A common story: Dad hands the business over because “he’s family.”
But the son or daughter may be great on the tools and not trained in:
Dominic shares a case from an HVAC company where the son took over too quickly and morale tanked. Sales dipped. Dad had to step back in.
The lesson?
Kids aren’t born ready to lead a company.
They must be prepared, trained, and backed with clear expectations.
This is one of the fastest ways to ruin trust.
Dominic tells the story of a cabinet shop where the father used business cash for personal expenses — something he’d always done — but now his son handled payroll.
One $10,000 withdrawal nearly caused the team to go unpaid.
Tension rose. Suppliers were upset. The son felt trapped.
The takeaway?
Family money and business cash must stay separate.
If not, stress grows fast — and relationships crack.
Two kids.
Both believe they’ll run the shop someday.
Neither talked about roles, pay, or ownership.
Sound familiar?
Dominic’s case study explains how unclear expectations led to:
Avoiding the conversation is always more painful than having it.
Dominic recommends:
Your family depends on this business.
Your future depends on passing it the right way.
A smooth handoff comes from planning — not guessing.
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